S&P 500 gained 25 points in final 15 minutes Friday to close at record 3974 after volatile week
C fund hit new record high while I fund closed within 1% of previous peak, narrowing gap with S fund
Markets bounced on better jobless claims, vaccine progress, and inflation fears easing midweek
You don’t see this every day, but the S&P 500 gained 25 points in the last 15 minutes of trading Friday to eke out a new record by less than a half a point, closing at 3974. It was a volatile week as we saw more of that rotation out of growth and tech stocks and move into areas that benefit from economic reopening. Looking like a big “V”, the S&P 500 hit a low of 3854 at midday Wednesday. Then the markets bounced to the upside after jobless claims came in better than expected, there was good news on the COVID vaccine rate, and fears of rising inflation eased after coming within analyst estimates. From a technical perspective, it is bullish when we see indices break above the resistance level of the previous record high as it just builds on that “Let the trend be our friend” mentality. For TSP TIPS, we saw the C fund hit a new record on Friday and the I fund close within one percent of it’s previous high. Both are closing the Performance Ranking gap with the S fund so we are recommending the following reallocation.
Recommended Allocation (Moderate Profile)
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You don’t see this every day, but the S&P 500 gained 25 points in the last 15 minutes of trading Friday to eke out a new record by less than a half a point, closing at 3974. It was a volatile week as we saw more of that rotation out of growth and tech stocks and move into areas that benefit from economic reopening. Looking like a big “V”, the S&P 500 hit a low of 3854 at midday Wednesday. Then the markets bounced to the upside after jobless claims came in better than expected, there was good news on the COVID vaccine rate, and fears of rising inflation eased after coming within analyst estimates. From a technical perspective, it is bullish when we see indices break above the resistance level of the previous record high as it just builds on that “Let the trend be our friend” mentality. For TSP TIPS, we saw the C fund hit a new record on Friday and the I fund close within one percent of it’s previous high. Both are closing the Performance Ranking gap with the S fund so we are recommending the following reallocation.